Taylor Swift Chastises Scooter Braun For Dumping Her Master Recordings For $300M
Taylor Swift has been a part of a huge controversy that took part after Scooter Braun removed her master recordings from the Big Machine Label Group for a couple of millions of dollars.
Taylor finally opened her mouth to criticize the ruthless action of selling her majestic recordings for more than US$300 million.
She stormed to Twitter with her post: “For the past year I’ve been actively trying to regain ownership of my master recordings.”
She spoke about the unnecessary feud and went to Twitter on Monday to make her point in front of millions of followers.
She confirmed that her management team tried to resolve the matter and negotiate with Mr. Braun. But all the efforts were a mug’s game because the record executive allegedly ordered the Mine singer to be a part of a strict NDA, which means she could “never say another word about Braun unless it was positive.”
Afterward, she makes a shocking revelation saying that her master recordings were bought by a label that goes under the name of Shamrock Holdings.
She announced, “This was the second time that my music had been sold without my knowledge.”
According to reliable sources, when Shamrock Holdings tried to tell the pop start about the business, Braun threatened the company to cancel the whole deal if they ever tried to inform her.
Swift continued, “As soon as we started communication with Shamrock, I learned that under their terms Scooter Braun will continue to profit off my old music catalogue for many years.”
“I was hopeful and open to a possibility of a partnership with Shamrock, but Scooter’s participation is a non-starter for me,” she told the media.
She posted the pictures of a letter of response that was sent to her by the private equity group after buying those records.
Shamrock Capital Content Fund broke the silence after the whole issue caught under fire. It publically announced, “Taylor Swift is a transcendent artist with a timeless catalogue. We made this investment because we believe in the immense value and opportunity that comes with her work. We fully respect and support her decision and, while we hoped to formally partner, we also knew this was a possible outcome that we considered.”
It officially accepted that Taylor’s open communication and professionalism with the team was really commendable.
Shamrock Company hopes to “partner with her in new ways moving forward and remain committed.”
Taylor’s last two albums Lover and Folklore were released under Universal Music Group.
I am Darryl Broadhurst and i give investors an insight into the most recent news hitting the “Technology” sector in Wall Street. I have been an independent financial adviser for over 11 years in the city and in recent years turned my experience in finance and passion for journalism into a full time role. I perform analysis of Companies and publicizes valuable information for shareholder community.
